Gold’s going wild, affecting Thai investors and the baht

22 Sept 22:32 Key points summarised by AI

Gold's extreme volatility, including a significant price drop after a 64% rise last year, is heavily impacting Thai investors and the national currency, prompting the Bank of Thailand (BOT) to intervene.
Large volumes of gold trading and price swings cause the Thai baht to appreciate, eroding the country's export competitiveness and necessitating regulatory measures to stabilize the currency.
Effective March 1, 2026, the BOT will cap online gold trading at 50 million baht per person daily, prohibit short-selling, require full upfront payment, and mandate reporting for large transactions to curb currency volatility.
While the BOT aims to stabilize the baht by reducing rapid dollar-to-baht conversions, experts express caution, noting potential limitations in controlling offshore trades and the deep cultural roots of gold investment in Thailand.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.